​Bank of Canada concerned about e-money

by Jamie Henry13 Nov 2014

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​Bank of Canada concerned about e-money

Electronic money has potential risk for the whole financial system. That’s the warning from the Bank of Canada’s senior governor Carolyn Wilkins who says that e-money payments are unregulated and offer no consumer protection. The BoC is investigating payments systems including the increasingly popular digital currencies like Bitcoin. Wilkins warns that there’s a risk that people may amass such currency and be unable to spend it.

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